Sega is going to be The Man Behind the Man
What with Sega and Atlus being part of the same company and all. This could also result in a Tomato in the Mirror realization for Morgana, similar to Teddie's, given that his Meme Form is his Sonic Costume. The version of Arsene used by FeMC in Persona 3 in a Nutshell 2 is Arsene Telos
Much like how Joker's versions of the P3 and P4 Personas become Picaro variants from the Trickster's influence, the version of Arsene Joker gave FeMC became a Telos variant after becoming the mask of the Messiah.